Former F&I Manager Reveals Secrets To Become GM

Have you ever wondered what it takes to truly excel in the world of Finance & Insurance (F&I) management? Wendy, a seasoned F&I professional now holding the position of General Sales Manager at Latrobe Chevrolet, shares invaluable insights that offer a clear path to success. Whether you're an F&I manager striving to make an impact, or a sales manager looking to bridge the gap between your team and customer experience, Wendy's journey is full of lessons that can reshape your approach.

The success in F&I begins with building genuine connections, fostering trust, and leading with a positive attitude. Wendy demonstrates that by treating colleagues as customers and taking a proactive role in every deal, any F&I manager can uplift their performance and, in turn, drive profitability. Dive into this detailed guide, where we cover Wendy's top strategies, the importance of teamwork, and the shift in how leads are handled today.

Sounds intriguing, right? Let’s uncover how you can apply these lessons to achieve unprecedented results.

Key Takeaways

• Attitude and professionalism are key attributes for any successful F&I manager.

• Actively engage with deals from the start to foster a collaborative, "think tank" environment.

• Embrace new techniques like video responses to handle leads more effectively.

• Treat every lead like a customer sitting in front of you, ensuring individualized attention.

• Be a leader who earns respect through knowledge and consistency.

What Makes an F&I Manager Successful?

Becoming a successful F&I manager involves more than just understanding finance and insurance products. It requires a comprehensive approach that includes personal attitude, professional development, and a commitment to the team.

Wendy, who began her career in F&I and rose through the ranks to become a General Sales Manager, believes that attitude and professionalism are non-negotiable traits. "You have to set the tone," she says. "I always wanted my salespeople to see me as the go-to person. I earned their trust by making sure I had the right answers or was willing to find them." This dedication to trust-building ensures not only smooth internal operations but also an environment where every member feels supported.

Why Attitude and Professionalism Matter in F&I Management

Attitude sets the foundation for success in any role, and F&I is no exception. Wendy emphasizes the importance of maintaining a positive and solution-oriented attitude, both with customers and internal team members.

"Salespeople are my customers too," Wendy shares, reflecting on her approach to managing relationships within the dealership. By creating a supportive environment, she ensured that her office became a refuge for salespeople after facing the pressures of the sales desk. This approach didn't just benefit the morale of the team but also directly impacted sales outcomes.

Professionalism is equally critical. Wendy made it a point to always have the answers her team needed. "I never wanted to say, 'I don’t know.' I might not know at the moment, but I’d make sure to find the right answer." This level of professionalism solidifies an F&I manager’s role as a trusted resource, helping to elevate the entire team's performance.

How to Develop Effective Collaboration on the Sales Floor

Engage Early in Every Deal

One of Wendy's keys to success is being involved from the very beginning of each deal. "I hung out in the desk office," she says, highlighting her proactive approach. Getting involved early helps align all parties and allows the F&I manager to influence the deal positively from the start.

This strategy aligns with the "tell, don’t sell" approach that Wendy implemented at Latrobe Chevrolet. By positioning herself at the forefront of every deal, she ensured that communication was seamless and that every customer's experience was personalized.

Promote a "Think Tank" Culture

Collaboration is at the heart of any successful sales environment. Wendy advocates for creating a "think tank" atmosphere where multiple team members, including sales managers and F&I, work together to structure deals. "It becomes a team effort to put a deal together, and you become a think tank rather than relying on one person's opinion," Wendy notes.

This collective approach not only distributes the pressure but also brings diverse perspectives, which often leads to more innovative and customer-friendly solutions. The result? Higher profitability and a more cohesive team.

Tips for Effective Lead Handling in the Modern Market

Lead handling has undergone a significant shift, especially with changing consumer behaviors. Wendy points out that the old strategy of insisting that customers "come in for an appointment" is no longer effective. Instead, modern customers expect transparency, including price details, before they set foot in the dealership.

Treat Leads Like In-Person Customers

Wendy's advice is simple yet powerful: "Pretend that the lead is a customer sitting in front of you." This mindset shift allows salespeople to personalize their responses and deliver better service. It ensures that the lead doesn’t get lost in a sea of automated replies.

Utilize Video Responses

To further enhance the lead handling process, Wendy has started encouraging her team to use video responses. By recording a short video message for the customer, salespeople can create a more personal connection and stand out from the competition. "It's about putting a face to the name and making that first impression count," she explains.

How to Build Strong Relationships with Sales Teams

Building strong relationships within the sales team is crucial for any F&I manager. Wendy's approach focuses on being visible and approachable. "I get involved early, so they know who’s behind the screen doing their numbers," she shares.

This visibility builds trust and eliminates the perception of F&I as a mysterious or intimidating part of the dealership. Instead, the F&I manager becomes a familiar face—someone the sales team knows is working in their best interest.

FAQs

How can I build trust as an F&I manager?
Start by always being prepared. If you don’t have an answer, commit to finding it and following up. Consistency and knowledge are key to building trust.

What’s the best way to handle leads in today's market?
Treat every lead as if the customer is sitting right in front of you. Personalize your responses and consider using video to make a memorable first impression.

How do I foster a collaborative environment at my dealership?
Encourage open communication and involve multiple team members in deal discussions. A "think tank" culture can lead to more innovative solutions and better team dynamics.

Taking Leadership to the Next Level

Wendy's story is a powerful testament to the impact that leadership, attitude, and collaboration can have within a dealership. Moving from F&I to General Sales Manager, she brought with her the principles that made her successful in F&I, a commitment to professionalism, a focus on teamwork, and the courage to push boundaries.

If you're looking to take your role as an F&I manager to the next level, start by adopting Wendy's strategies. Engage with your team, treat every deal as a collaborative effort, and lead with an attitude that fosters respect and trust. By doing so, you'll not only elevate your own career but also drive your entire team's success.

The path to becoming an exceptional F&I manager is paved with genuine relationships, proactive involvement, and a relentless focus on the customer, whether that’s the salesperson sitting across from you or the customer waiting for a callback. Embrace these principles, and watch your performance soar.

By the way, you’re invited to check out our world-class F&I training program where the average F&I Manager increases their PVR by over 30% in the first month. You’ll have access to 100+ hours of training videos personalized to your weaknesses. Plus, you get exclusive access to see Gerry Gould LIVE twice per month to ensure you continue to grow your skillset and income. Come join a community of the top F&I Managers in the country and the #1 F&I Training in the world. For $149 you can pay that off with one extra deal we’ll personally teach you in the first week of training.

Go get ‘em!